ECN Broker - MT4

This is a discussion on ECN Broker - MT4 within the Brokerages forums, part of the Commercial category; Originally Posted by Als thanks for reply but there were many negative posts about fxcm mbt anyway wud be glad ...

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Old Oct 24, 2011, 6:26pm   #73
Joined Jan 2011
Re: ECN Broker - MT4

Quote:
Originally Posted by Als View Post
thanks for reply

but there were many negative posts about fxcm mbt

anyway wud be glad if you to post your reports

and how have you come to such conclusion that finfx is not retail ecn/stp?

any hint?

--------

regards and lucky trading
Yes I know there is many negative posts about them,
some is legit some are probably not,
fxcm is stp and I find them ok to trade with
fast executions no requotes and they pay out,
but they are certanly not perfect,
you probably heard of the fxcm scandal,
they where fined by NFA to pay millions,
inspite of their previous history it's been a pleasant trading experience with them so far.
I guess everyone can improve them self.
mbt is ? dealing desk hybrid very nice spreads but horrible trading experience,
I haven't been trading with them for a long time
slow executions and I doubt I ever see my money again,
they claim the checks bounced twice,
strange, it was ok to deposit with the same thing, well
on a scale from 1-10 non ECN brokers,
fxcm 9
mbt 1

the reason I don't like finfx is because they
freezed or blocked the platform at news several times even it was a demo acount,
this was at the begining when they just became operational,
I suspect some miss configuration there otherwice they would have no reason to block demos
I was not able to execute any trades at news and only at news.
this was a demo ok ,then I wonder what they might do in a live acount?
if they where a true ECN they would have no interests in such things,
and that implies they have control over the platform, probably using the plugin
I suspect they are a false ECN
also they are not regulated,
I might oversee the regulation part but not that behaviour.
to many bad things about them.

Last edited by chrisbliss; Oct 24, 2011 at 6:35pm.
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Old Oct 24, 2011, 7:15pm   #74
Als
Joined Jul 2010
Re: ECN Broker - MT4

Quote:
Originally Posted by chrisbliss View Post
Yes I know there is many negative posts about them,
some is legit some are probably not,
fxcm is stp and I find them ok to trade with
fast executions no requotes and they pay out,
but they are certanly not perfect,
you probably heard of the fxcm scandal,
they where fined by NFA to pay millions,
inspite of their previous history it's been a pleasant trading experience with them so far.
I guess everyone can improve them self.
mbt is ? dealing desk hybrid very nice spreads but horrible trading experience,
I haven't been trading with them for a long time
slow executions and I doubt I ever see my money again,
they claim the checks bounced twice,
strange, it was ok to deposit with the same thing, well
on a scale from 1-10 non ECN brokers,
fxcm 9
mbt 1

the reason I don't like finfx is because they
freezed or blocked the platform at news several times even it was a demo acount,
this was at the begining when they just became operational,
I suspect some miss configuration there otherwice they would have no reason to block demos
I was not able to execute any trades at news and only at news.
this was a demo ok ,then I wonder what they might do in a live acount?
if they where a true ECN they would have no interests in such things,
and that implies they have control over the platform, probably using the plugin
I suspect they are a false ECN
also they are not regulated,
I might oversee the regulation part but not that behaviour.
to many bad things about them.
appreciate your opinion

but what about lmax?

demo spreads and execution are fine (ugly platform though)

some reports of live acct holders are also favorable..........

your thoughts?
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Old Oct 25, 2011, 5:37am   #75
Joined Jan 2011
Re: ECN Broker - MT4

LMAX is one of the most interesting brokers in my opinion,
they seem to be just fine from what I can tell,
I have no experience trading with them though,
there is just one thing in the FSA register
something about "they are able to withhold clients money"
other than that and if you can spare 5000 + 60 month
Id say go for it
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Old Nov 13, 2011, 5:20am   #76
 
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Joined Nov 2011
Re: ECN Broker - MT4

I've spent weeks going through the Ducascopy/FTT compliance. I didn't realise the commission was going to be over $20 per round turn. What a waist of time.

My fault for lack of due diligence.
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Old Nov 13, 2011, 11:42am   #77
Joined Jan 2009
Re: ECN Broker - MT4

JDTRADER started this thread
Quote:
Originally Posted by bendex View Post
I've spent weeks going through the Ducascopy/FTT compliance. I didn't realise the commission was going to be over $20 per round turn. What a waist of time.

My fault for lack of due diligence.
Don't know where you found that but I'm in the process of opening a Live account with Dukascopy Europe. Opening a live account can take up to 2 weeks

Hope these help:
Commission Policy
Forex Calculator

Dukascopy can be confusing but its worth looking into plus if you use Molecule6 you get 45% rebates on commissions every month.

Its good to see you do some Due Diligence unlike some traders and even myself I have been caught out so well done you mate
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Old Nov 13, 2011, 11:54am   #78
Joined Jan 2009
Re: ECN Broker - MT4

JDTRADER started this thread
Quote:
=bendex;1720904Ducascopy/FTT compliance. I didn't realise the commission was going to be over $20 per round turn. What a waist of time.
Sorry Sunday morning didn't read post properly

I looked into the Dukascopy/FTT MT4 Bridge

And yes I found that your in effect paying double commission.

Commission to Dukascopy
Commission to FTT for the Bridge

MT4 was never designed for ECN trading only as a Platform for Market Makers. Retail Traders what more fair trading like ECN so brokers are adapting MT4 for ECN but I have to think is it still under the control of the Broker ?

So now with Dukascopy Europe reducing there min deposit and commission's I decided to leave MT4 and trade JFOREX ECN Platform with a respected broker.
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Old Nov 13, 2011, 2:39pm   #79
Joined Aug 2009
Re: ECN Broker - MT4

I think Dukascopy Europe is going to release a proper MT4 pratform without extra cost, not third party bridge. I could be wrong. But third party is already available, no need to have demo test, right?

BTW, has anyone noticed their commission is per million not per 100k?

I found if limits are used for entry/exit or both, MB Trading UK is the cheapest option. Their execution speed/price on live is very good (I don't work for them)

Last edited by alex2006; Nov 13, 2011 at 3:06pm. Reason: Change from 10k to 100k. that's what I meant
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Old Nov 13, 2011, 2:48pm   #80
Joined Jan 2009
Re: ECN Broker - MT4

JDTRADER started this thread
Quote:
Originally Posted by alex2006 View Post
I think Dukascopy Europe is going to release a proper MT4 pratform without extra cost, not third party bridge. I could be wrong. But third party is already available, no need to have demo test, right?

BTW, has anyone noticed their commission is per million not per 10k?

I found if limits are used for entry/exit or both, MB Trading UK is the cheapest option. Their execution speed/price on live is very good (I don't work for them)
Sometime ago Dukascopy put out a press release that they have no plans to move from Beta Testing to Live trading with MT4
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